Glass Lewis recommends shareholders vote for deal to take Nuvei private

MONTREAL — Proxy advisory firm Glass, Lewis & Co. is recommending Nuvei Corp. shareholders vote for a plan that will see the company taken private.

The Montreal-based payment technology firm says Glass Lewis is the second leading independent proxy advisory firm to recommend shareholders back the deal.

It says Institutional Shareholder Services previously recommended shareholders vote for the offer.

Nuvei announced a plan earlier this year to be taken private by U.S. private equity firm Advent International, alongside existing shareholders Novacap, CDPQ and Nuvei chair and CEO Philip Fayer, in an agreement that valued the company at US$6.3 billion.

Under the proposal, shareholders will receive US$34 per share in cash.

Nuvei shareholders will vote on the proposal at a meeting on June 18.

This report by The Canadian Press was first published June 11, 2024.

Companies in this story: (TSX:NVEI)

The Canadian Press